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Dear Mr. Ingram:
I have a question, and may need your assistance /
service in the future.
Situation:
1. I am a Canadian citizen and also a U.S. permanent
resident ( with the green card).
2. I am living and working in the States right now.
3. I want to come back to work in Vancouver ( that is,
getting paid in Canada in CAD dollars ) but I will
live in the States ( Blaine or Point Roberts ),
commuting every day.
Question:
i. Do I have to file tax returns to both Canada
Taxation and U.S. Revenue ?
ii. Or can I just file tax return in Canada ?
I=92d appreciate your answer so that I can make a
decision.
Thanks
Sincerely,
CXXXXXX
__________________________________
david ingram replies:
i Yes, as a resident of Point Roberts or Blaine (I suggest Blaine =
makes more sense) you will pay tax on your Canadian earnings on a =
Canadian Tax Return. If your Canadian earnings represent 90% of your =
world income, you will only report your Canadian Income to Canada and =
still qualify for full exemption amounts in Canada. If your Canadian =
income is not 90% of your world income, you will report the Canadain =
Income to Canada but will NOT ge the benefit of claiming the personal =
amounts unless you want to report your world income to Canada which is =
usually not to your benefit.
ii You will then report the Canadian Income to the US on your 1040 =
(convert to US currency amounts first) and the rest of your world income =
would also go ont he 1040. You would then claim credit for the taxes =
paid to Canada on your 1040 by iusing form 1116.
Remember - you also have to deal with the US reporting rules for =
Canadian RRSP and pension accounts. To find out more about these rules, =
goto www.centa.com, click on newsletters, click on 2003, click on August =
- read the new rules.
David Ingram of the CEN-TA REALTY Group
US / Canada / Mexico tax and working Visa Specialists
US / Canada Real Estate Specialists
108-100 Park Royal South
West Vancouver, BC, CANADA, V7T 1A2
(604) 980-0321 - Fax 913-9123 [email protected]
www.centa.com www.david-ingram.com
Disclaimer: This question has been answered without detailed =
information or consultation and is to be regarded only as general =
comment. Nothing in this message is or should be construed as advice =
in any particular circumstances. No contract exists between the reader =
and the author and any and all non-contractual duties are expressly =
denied. All readers should obtain formal advice from a competent and =
appropriately qualified legal practitioner or tax specialist in =
connection with personal or business affairs such as at www.centa.com. =
If you forward this message, this disclaimer must be included."
Be ALERT, the world needs more "lerts"
=20
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